US9581021055 - Common Stock
WESTERN DIGITAL CORP
NASDAQ:WDC (10/28/2024, 8:00:03 PM)
After market: 69.75 +0.04 (+0.06%)69.71
+0.26 (+0.37%)
Western Digital Corp. engages in the development, manufacture, marketing, and sale of data storage devices and solutions. The company is headquartered in San Jose, California and currently employs 53,000 full-time employees. The company sells data storage devices and solutions in the United States and in foreign countries through its sales personnel, dealers, distributors, retailers, and subsidiaries. The company has two segments: flash-based products (Flash) and hard disk drives (HDD). Flash products provide non-volatile data storage based on flash technology. The company develops and manufactures solid state storage products for a variety of applications including enterprise or cloud storage, client storage, automotive, mobile devices, and removable memory devices. HDD products provide non-volatile data storage by recording magnetic information on a rotating disk. The company develops and manufactures substantially all the recording heads and magnetic media used in its HDD products. Its portfolio of technology and products address multiple end markets.
WESTERN DIGITAL CORP
5601 Great Oaks Parkway
San Jose CALIFORNIA 95119
P: 19496727000
CEO: David V. Goeckeler
Employees: 51000
Website: https://www.westerndigital.com/
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Shares of leading data storage manufacturer Western Digital (NASDAQ: WDC) jumped 13.1% in the pre-market session after the company reported strong third-quarter earnings with significant gross margin improvement, which helped to beat on adjusted operating profit and adjusted EPS. Notably, the cloud segment (54% of overall revenue) contributed the most to the top-line outperformance, accelerating 17% sequentially and 153% year on year. This was powered by what management considered "higher nearline shipments in HDD and enterprise SSD bit shipments to data center customers" and more than offsetting softness in the client and consumer segments. While guidance for next quarter's revenue and adjusted EPS slightly missed Wall Street's estimates, the market seemed to overlook this.
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